Monday, May 7, 2007
SEGURO (Dyornal Entry for May 04, 2007)
WR Berkley Corporation provide a very strong billion dollar backing since it is foreign, and without this as a mother company I highly doubt Danvil's financial strength and expertise to remain unchanged because pre-need companies here in the Philippines experience problems as regard to their hard time looking for financial back-up.
What attracts me to invest in their insurance programs is its being multinational and it was in the Top 1000 Corporations in the country.
Is this another NFI? This abrupt change in ownership scares me. Since it becomes a new entity of a local propriety I can fathom it would be just like any other life insurance and preneed business - that shrink down and lost their major trust funds that leads to their inability to refund every single cent expected by their plan holders.
I swear, I'll never join in any club that would have me as a member. I'm bad luck!